AeroVironment Jumps After Q3 Earnings Beat

AeroVironment (NASDAQ: AVAV) is up more than six percent in after hours trading after the company announced its third quarter results.

The firm reported a Q3 EPS of $0.49 versus the Street estimate of $0.19.

Earnings per share were up 188 percent from the year-ago period.

Revenue arrived at $69.2 million versus the Street estimate of $64.96 million. Sales were up 47 percent year-over-year.

"During the third quarter we continued to execute on our strategic priorities successfully, delivering strong results with revenue up nearly 50 percent and a 100 percent increase in adjusted earnings per share on a year over year basis," Tim Conver, AeroVironment chairman and CEO, said in a company release.

"We are confident that our strong customer relationships, diverse set of capabilities and well-established positions in high potential growth opportunities will advance our leadership in each of our target markets and enhance value for our shareholders."

AeroVironment reaffirmed its FY2014 outlook. The company anticipates an EPS between $0.35 and $0.50, and sales between $230 million and $250 million.

Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.